Chapter 7: Accounting Manual For Public School Districts

———————————————————————————————–Accounting Manual for Public School Districts

CHAPTER 7 – General Journal Entries
Table of Contents

Section - Page

INTRODUCTION

1-1

GENERAL FUND JOURNAL ENTRIES

2-1

Opening Entry ...................................................................................................................2-1
Budget Entries ..................................................................................................................2-2
Budget Entries—Modifications........................................................................................2-2
Revenues—Property Tax .................................................................................................2-3
Revenues ...........................................................................................................................2-4
Capital Assets—Purchase ...............................................................................................5-6
Closing Entries..................................................................................................................5-7

TRANSPORTATION VEHICLE FUND JOURNAL ENTRIES

6-1

Opening Entry ...................................................................................................................6-1
Budget Entry .....................................................................................................................6-1
Revenues—Property Tax .................................................................................................6-1
Investments .......................................................................................................................6-2
Revenues ...........................................................................................................................6-3
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Effective Date:
9-1-02
Chapter 7 – General Journal Entries
2
Supersedes:
9-1-01
Table of Contents

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#8
General
Ledger
Account
760
310

Account Title and Description
Deferred Revenue-Taxes Receivable
Taxes Receivable

Debits
14,950

Credits
14,950

To record the reduction in taxes receivable as a result of property tax collections.

———————————————————————————————————————————————————–
Effective Date:
9-1-02
Chapter 7 – General Journal Entries
3
Supersedes:
9-1-00
Section 2 – General Fund Journal Entries

———————————————————————————————–Accounting Manual for Public School Districts

#9
General
Ledger
Account
960
240

Account Title and Description
Revenues
Cash on Deposit With County Treasurer

Debits
17

Credits
17

To record the refund of collected property taxes as reported by the county treasurer.

Revenues
# 10
General
Ledger
Account
240
960

Account Title and Description
Cash on Deposit With County Treasurer
Revenues

Debits
36,580

Credits
36,580

To record revenues, except property taxes, collected directly by the county treasurer and not previously established as a